When should I start thinking about a Succession Plan for my business?

January 30, 2020 •

Download the episode on Spotify here / Apple here / YouTube here. 

Josh & Jay welcome Will Steih, Managing Director or Prime Capital Investment Advisor’s Tennessee office, to the studio for Chapter 1 of 5 in our Business Owner Strategies & Solutions (B.O.S.S.) Series, a discussion about Succession Planning. What does a properly structured Succession Plan look like? How does a business owner insure that the business will survive after they retire, either through a generational or key person transfer or an outright sale? Listen in to hear important concepts & solutions to consider!

 

Key Takeaways:

  • The best time to consider a Succession Plan is NOW. Life happens fast.
  • An unwritten Succession Plan is just a promise.
  • Succession Plans need to be written and funded.    
  • A well designed Succession Plan is a key element of having a multi-generational business.  

Show Links: 

https://v0y.3de.mytemp.website/ 

https://v0y.3de.mytemp.website/401k-forum

https://pciawealth.com/ 

https://qualifiedplanadvisors.com/ 

https://fitrusts.com/ 

https://everydollarcounts.libsyn.com/ 

http://jaystubbs.com/

https://www.firstprotective.com/

https://www.deepfriedstudios.com/

https://www.slothracerband.com/  

Resources:

Gulf Coast Financial Advisors

Prime Capital Investment Advisors 

Qualified Plan Advisors 

Financial Fitness for Life

First Protective 

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Gulf Coast Financial Advisors LLC (“GCFA”) is an investment adviser registered with the states of Alabama and Texas. Registration does not imply a certain level of skill or training. GCFA provides investment advisory services only in jurisdictions where it is properly registered, has made the required notice filings, or qualifies for an exemption or exclusion from registration or notice filing requirements. Nothing contained herein should be construed as legal, tax, or investment advice, or as a solicitation to engage in any specific securities transaction or investment strategy. Personalized investment advice is provided only through direct communications with GCFA’s duly authorized investment adviser representatives. GCFA is doing business as Summit Legacy Advisors, a GCFA Network Company, in the state of Texas. Gulf Coast Financial Advisors, LLC | 561 Fairhope Ave, STE 202B | Fairhope, AL 36532 | 251.327.2124 | www.gulfcoastfa.com